Supplement Dated: January 2, 2019

Transcription

1 INVESCO UNIT TRUSTS, SERIES 1916 Dividend Income Leaders Strategy Portfolio Supplement to the Prospectus As a result of a previously announced merger, on January 2, 2019, holders of Government Properties Income Trust ( GOV ) common stock received 0.25 shares of Office Properties Income Trust ( OPI ) common stock for every 1 share of GOV. Fractional shares were not issued and cash will be distributed in lieu of any such fractional amounts. Notwithstanding anything to the contrary in the Prospectus, the Portfolio now holds, and will continue to purchase, shares of OPI. Supplement Dated: January 2, 2019 U-EMSSPT1916

2 All Cap Core Strategy Large Cap Core Strategy Mid Cap Core Strategy Small Cap Core Strategy S&P PowerPicks Portfolio Dividend Income Leaders Strategy Portfolio Large Cap Value Strategy Each unit investment trust named above (the Portfolios ), included in Invesco Unit Trusts, Series 1916, invests in a portfolio of stocks. Of course, we cannot guarantee that a Portfolio will achieve its objective. October 18, 2018 You should read this prospectus and retain it for future reference. The Securities and Exchange Commission has not approved or disapproved of the Units or passed upon the adequacy or accuracy of this prospectus. Any contrary representation is a criminal offense. INVESCO

3 All Cap Core Strategy Investment Objective. The Portfolio seeks to provide capital appreciation. Principal Investment Strategy. The Portfolio seeks to achieve its objective by using 3 separate and unique enhanced index strategies 1 to select a portfolio of 120 stocks. The Large Cap Core Strategy will make up approximately 60% of the initial Portfolio, while the Mid Cap Core Strategy and Small Cap Core Strategy will each comprise approximately 20%. Each strategy will produce 40 stocks using the selection processes described below. Invesco Capital Markets, Inc., the Sponsor, implemented the Portfolio strategy using information available through FactSet as of the close of business on October 9, 2018 (the Selection Date ). Large Cap Core Strategy. The selection process for this strategy selects 20 stocks derived from the S&P 500 Growth Index using the Large Cap Growth Strategy and 20 stocks derived from the S&P Value Index using the Large Cap Value Strategy. Large Cap Growth Strategy: Step 1: Begin with the stocks in the S&P 500 Growth Index 2 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the Price-to-Free Cash Flow and exclude all but the lowest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Return on Invested Capital and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the highest 3-Month Relative Sector Performance for the Portfolio 1 An enhanced index strategy refers to a unit investment trust strategy, sponsored by Invesco Capital Markets, Inc., that seeks to outperform an index by investing in an objectively selected subset of stocks from the same index. 2 For stocks included in both the S&P 500 Growth and the S&P 500 Value Indices, include only stocks with a higher Growth Weight than Value Weight for the Large Cap Growth Strategy, or with the higher Value Weight than Growth Weight for the Large Cap Value Strategy. Growth Weight and Value Weight are metrics furnished by S&P representing a company s weight within its respective S&P index. No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by S&P s Global Industry Classification Standard ( GICS )). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. Large Cap Value Strategy: Step 1: Begin with the stocks in the S&P 500 Value Index 2 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the highest 6-Month Relative Sector Performance and exclude all but the highest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Cash Percentage of Market Capitalization and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the lowest Price-to-Free Cash Flow for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on 2

4 publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. Mid Cap Core Strategy. The selection process for this strategy selects 20 stocks derived from the S&P Mid Cap 400 Growth Index using the Mid Cap Growth Strategy and 20 stocks derived from the S&P Mid Cap 400 Value Index using the Mid Cap Value Strategy. Mid Cap Growth Strategy: Step 1: Begin with the stocks in the S&P MidCap 400 Growth Index 3 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the Forward P/E and exclude all but the lowest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Cash Percentage of Market Capitalization and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the highest Long-Term Growth Rates for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. 3 Mid Cap Value Strategy: Step 1: Begin with the stocks in the S&P MidCap 400 Value Index 3 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the highest 1-Year Sales Growth and exclude all but the highest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Operating Cash Flow-to-Net Income and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the lowest Price-to-Sales for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. Small Cap Core Strategy. The selection process for this strategy selects 20 stocks derived from the S&P Small Cap 600 Growth Index using the Small Cap Growth Strategy and 20 stocks derived from the S&P Small Cap 600 Value Index using the Small Cap Value Strategy. 3 For stocks included in both the S&P MidCap 400 Growth and the S&P MidCap 400 Value Indices, include only stocks with a higher Growth Weight than Value Weight for the Mid Cap Growth Strategy, or with the higher Value Weight than Growth Weight for the Mid Cap Value Strategy.

5 Small Cap Growth Strategy: Step 1: Begin with the stocks in the S&P SmallCap 600 Growth Index 4 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the Enterprise Value to EBITDA and exclude all but the lowest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Return on Invested Capital and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the highest 6-Month Relative Sector Performance for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. Small Cap Value Strategy: Step 1: Begin with the stocks in the S&P SmallCap 600 Value Index 4 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization 4 For stocks included in both the S&P SmallCap 600 Growth and the S&P SmallCap 600 Value Indices, include only stocks with a higher Growth Weight than Value Weight for the Small Cap Growth Strategy, or with the higher Value Weight than Growth Weight for the Small Cap Value Strategy. Step 3: Rank the remaining stocks from the previous step based on Long-Term Growth Rates and exclude all but the highest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Debt-to-Equity and exclude all but the lowest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the lowest Price/Operating Earnings for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. With respect to each strategy described above, if more than 8 stocks in the initial portfolio are from a single economic sector (as defined by GICS), any such additional stock will be replaced with the stock with the next highest rank after Step 5 that is not in the same sector. Of course, we cannot guarantee that your Portfolio will achieve its objective. The value of your Units may fall below the price you paid for the Units. You should read the Risk Factors section before you invest. The Portfolio is designed as part of a long-term investment strategy. The Sponsor may offer a subsequent series of the portfolio when the current Portfolio terminates. As a result, you may achieve more consistent overall results by following the strategy through reinvestment of your proceeds over 4

6 several years if subsequent series are available. Repeatedly rolling over an investment in a unit investment trust may differ from long-term investments in other investment products when considering the sales charges, fees, expenses and tax consequences attributable to a Unitholder. For more information see Rights of Unitholders--Rollover. Factor Definitions: Market Capitalization - A stock s share price multiplied by the number of shares outstanding. Price-to-Free Cash Flow - Stock price divided by last twelve months free cash flow. Free cash flow is net income plus depreciation and amortization and deferred income taxes; and minus capital expenditures and common and preferred dividends; all from the cash flow statement. Return on Invested Capital - Last twelve months net income before extraordinary items divided by total capital (long-term debt plus common and preferred equity and minority interest). 3-Month Relative Sector Performance - The percentage return of the stock over the last three months relative to the median return of all stocks in its sector. 6-Month Relative Sector Performance - The percentage return of the stock over the last six months relative to the median return for all stocks in its sector. In other words, a positive value for this metric would reflect that during the time frame a stock generally outperformed stocks of other companies in its sector, while a negative value would reflect that a stock generally underperformed stocks of other companies in the same sector. Cash Percentage of Market Capitalization - Cash divided by market capitalization. Forward P/E - FactSet next year fiscal year earnings divided by price (prior to 12/31/13 data was provided by First Call, or if not available for a particular company, by I/B/E/S). FactSet and I/B/E/S are databases of security recommendations and estimates from many different contributing firms that translate the data into uniform consensus average recommendations and estimates from contributing firms. First Call is a database provided by Thompson Reuters that gathers research notes and earnings estimates from brokerage analysts. Long-Term Growth Rates - FactSet mean growth rate estimate representing the expected annual increase in operating earnings over the next business cycle (prior to 12/31/13 data was provided by I/B/E/S). 1-Year Sales Growth - Percentage change in sales over the last twelve months. Operating Cash Flow-to-Net Income - Last twelve months cash from operations divided by last twelve months net income. Price-to-Sales - Price times shares outstanding divided by sales for the last twelve months. Enterprise Value to EBITDA - Enterprise value divided by Earnings before Interest, Taxes, Depreciation, and Amortization ( EBITDA ). Enterprise value equals stock market capitalization plus sum of debt and preferred stock minus cash and cash equivalents. Debt-to-Equity - Total debt (short-term plus longterm) dividend by equity (common plus preferred). Price/Operating Earnings - Last twelve months operating earnings (sales (net) minus cost of goods sold and selling, general, and administrative expenses before deducting depreciation, depletion and amortization). Principal Risks. As with all investments, you can lose money by investing in this Portfolio. The Portfolio also might not perform as well as you expect. This can happen for reasons such as these: Security prices will fluctuate. The value of your investment may fall over time. An issuer may be unwilling or unable to declare dividends in the future, or may 5

7 reduce the level of dividends declared. This may result in a reduction in the value of your Units. The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period. You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio s profits and losses. The Portfolio s performance might not sufficiently correspond to published hypothetical performance of the Portfolio s investment strategy. This can happen for reasons such as an inability to exactly replicate the weightings of stocks in the strategy or be fully invested, timing of the Portfolio offering or timing of your investment, and Portfolio expenses. The hypothetical performance presented is not the past performance of the Portfolio. The Portfolio invests in stocks of large cap companies. Large cap companies are more mature and may grow more slowly than the economy as a whole and tend to go in and out of favor based on market and economic conditions. The Portfolio invests in stocks of smaller capitalization companies. These stocks are often more volatile and have lower trading volumes than stocks of larger companies. Smaller capitalization companies may have limited products or financial resources, management inexperience and less publicly available information. We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines. 6

8 Fee Table The amounts below are estimates of the direct and indirect expenses that you may incur based on a $10 Public Offering Price per Unit. Actual expenses may vary. As a % of Public Amount Offering Per 100 Sales Charge Price Units Initial sales charge 0.000% $ Deferred sales charge Creation and development fee Maximum sales charge 1.850% $ As a % Amount of Net Per 100 Assets Units Estimated Organization Costs 0.196% $1.920 Estimated Annual Expenses Trustee s fee and operating expenses 0.192% $1.879 Supervisory, bookkeeping and administrative fees Total 0.248% $2.429* Example This example helps you compare the cost of the Portfolio with other unit trusts and mutual funds. In the example we assume that the expenses do not change and that the Portfolio s annual return is 5%. Your actual returns and expenses will vary. This example also assumes that you continue to follow the Portfolio strategy and roll your investment, including all distributions, into a new trust each year subject to a sales charge of 1.85%. Based on these assumptions, you would pay the following expenses for every $10,000 you invest in the Portfolio: 1 year $ years years 1, years 2,572 * The estimated annual expenses are based upon the estimated trust size for the Portfolio determined as of the initial date of deposit. Because certain of the operating expenses are fixed amounts, if the Portfolio does not reach the estimated size, or if the value of the Portfolio or number of outstanding units decline over the life of the trust, or if the actual amount of the operating expenses exceeds the estimated amounts, the actual amount of the operating expenses per 100 units would exceed the estimated amounts. In some cases, the actual amount of operating expenses may substantially differ from the amounts reflected above. The maximum sales charge is 1.85% of the Public Offering Price per Unit. There is no initial sales charge at a Public Offering Price of $10 or less. If the Public Offering Price exceeds $10 per Unit, the initial sales charge is the difference between the total sales charge (maximum of 1.85% of the Public Offering Price) and the sum of the remaining deferred sales charge and the creation and development fee. The deferred sales charge is fixed at $0.135 per Unit and accrues daily from February 10, 2019 through July 9, Your Portfolio pays a proportionate amount of this charge on the 10th day of each month beginning in the accrual period until paid in full. The combination of the initial and deferred sales charges comprises the transactional sales charge. The creation and development fee is fixed at $0.05 per Unit and is paid at the earlier of the end of the initial offering period (anticipated to be three months) or six months following the Initial Date of Deposit. For more detail, see Public Offering Price -- General. Essential Information Unit Price at Initial Date of Deposit $ Initial Date of Deposit October 18, 2018 Mandatory Termination Date January 17, 2020 Estimated Net Annual Income 1 Estimated Initial Distribution 1 Record Dates Distribution Dates CUSIP Numbers $ per Unit $0.03 per Unit 10th day of each February, May and August, commencing February 10, th day of each February, May and August, commencing February 25, 2019 Cash 46142K628 Reinvest 46142K636 Fee Based Cash 46142K644 Fee Based Reinvest 46142K651 1 As of close of business day prior to Initial Date of Deposit. The actual distributions you receive will vary from the estimated amount due to changes in the Portfolio s fees and expenses, in actual income received by the Portfolio, currency fluctuations and with changes in the Portfolio such as the acquisition or liquidation of securities. See Rights of Unitholders--Estimated Distributions. 7

9 Hypothetical Strategy Performance The table below compares the hypothetical total return of stocks selected using the Portfolio s investment strategy (the Hypothetical Strategy Stocks ) with the stocks in the S&P 1500 Index and the S&P 500 Index. Hypothetical total return includes any dividends paid on the stocks together with any increase or decrease in the value of the stocks. The table illustrates a hypothetical investment in the Hypothetical Strategy Stocks at the beginning of each year -- similar to buying Units of the Portfolio, redeeming them after one year and reinvesting the proceeds in a new portfolio each year. These hypothetical returns are not actual past performance of the Portfolio or prior series but do reflect the sales charge or expenses you will pay. Of course, these hypothetical returns are not guarantees of future results and the value of your Units will fluctuate. You should note that the returns shown below are hypothetical annual returns based on a calendar year investment. The performance of the Portfolio may differ because the Portfolio has a 15 month life that is not based on a calendar year investment cycle. For more information about the hypothetical total return calculations, see Notes to Hypothetical Performance Tables. Hypothetical Total Return Hypothetical Strategy S&P 1500 S&P 500 Year Stocks Index Index % 32.93% 33.36% (6.97) (9.10) (10.64) (11.89) 2002 (9.39) (21.31) (22.10) (31.75) (36.72) (37.00) (0.46) Through 09/30/ See Notes to Hypothetical Performance Tables. 8

10 All Cap Core Strategy Portfolio Current Cost of Number Market Value Dividend Securities to of Shares Name of Issuer (1) per Share (2) Yield (3) Portfolio (2) Consumer Discretionary % + 41 Adient plc $ % $ 1, Advance Auto Parts, Inc , American Eagle Outfitters, Inc , BJ's Restaurants, Inc , Boyd Gaming Corporation , Callaway Golf Company , Chico's FAS, Inc , Dave & Buster's Entertainment, Inc , Dorman Products, Inc , Dunkin' Brands Group, Inc , Home Depot, Inc , Kohl's Corporation , Lowe's Companies, Inc , Nutrisystem, Inc , Penn National Gaming, Inc , RH , Ross Stores, Inc , Starbucks Corporation , Steven Madden, Ltd , Toll Brothers, Inc , Ulta Beauty, Inc , Urban Outfitters, Inc , Williams-Sonoma, Inc , Wyndham Hotels & Resorts, Inc , Zumiez Inc , Consumer Staples % 77 Archer-Daniels-Midland Company , Clorox Company , Kroger Company , Energy % 122 Baker Hughes, a GE Company - CL A , ConocoPhillips , HollyFrontier Corporation , McDermott International, Inc , Patterson-UTI Energy, Inc , Southwestern Energy Company , Valero Energy Corporation , Financials % 84 Aflac, Inc , Allstate Corporation , Bank OZK , Banner Corporation , Berkshire Hathaway, Inc. - CL B , City Holding Company , Community Bank System, Inc , Discover Financial Services ,

11 All Cap Core Strategy Portfolio (continued) Current Cost of Number Market Value Dividend Securities to of Shares Name of Issuer (1) per Share (2) Yield (3) Portfolio (2) Financials - continued 14 Evercore, Inc. - CL A $ % $ 1, First Bancorp , First Midwest Bancorp, Inc , Great Western Bancorp, Inc , Hanover Insurance Group, Inc , Independent Bank Corporation , JPMorgan Chase & Company , MetLife, Inc , Navient Corporation , Pinnacle Financial Partners, Inc , Progressive Corporation , Raymond James Financial, Inc , SEI Investments Company , SLM Corporation , Synovus Financial Corporation , U.S. Bancorp , Universal Insurance Holdings, Inc , Waddell & Reed Financial, Inc. - CL A , Health Care % 13 Anthem, Inc , Biogen, Inc , Cambrex Corporation , Emergent BioSolutions, Inc , Exelixis, Inc , Regeneron Pharmaceuticals, Inc , Industrials % 40 AECOM , Aegion Corporation , AGCO Corporation , ArcBest Corporation , Clean Harbors, Inc , Comfort Systems USA, Inc , CSX Corporation , EnerSys , Fastenal Company , Federal Signal Corporation , Forward Air Corporation , Gibraltar Industries, Inc , Greenbrier Companies, Inc , ITT, Inc , Lincoln Electric Holdings, Inc , Moog, Inc. - CL A , MYR Group, Inc , PGT Innovations, Inc , Ryder System, Inc ,

12 All Cap Core Strategy Portfolio (continued) Current Cost of Number Market Value Dividend Securities to of Shares Name of Issuer (1) per Share (2) Yield (3) Portfolio (2) Industrials - continued 63 Southwest Airlines Company $ % $ 3, Terex Corporation , Universal Forest Products, Inc , Information Technology % 17 Apple, Inc , Broadridge Financial Solutions, Inc , CACI International, Inc. - CL A , eplus, Inc , Fiserv, Inc , HP, Inc , Intuit, Inc , Jabil, Inc , Littelfuse, Inc , Mastercard, Inc. - CL A , MKS Instruments, Inc , NVIDIA Corporation , Photronics, Inc , Sanmina Corporation , Silicon Laboratories, Inc , Tech Data Corporation , Teradyne, Inc , VeriSign, Inc , Versum Materials, Inc , Visa Inc. - CL A , Vishay Intertechnology, Inc , Materials % 45 Allegheny Technologies, Inc , Boise Cascade Company , Century Aluminum Company , CF Industries Holdings, Inc , Kaiser Aluminum Corporation , Nucor Corporation , Sonoco Products Company , United States Steel Corporation , Real Estate % 10 PS Business Parks, Inc , Utilities % 16 Southwest Gas Holdings, Inc , ,232 $ 249, See Notes to Portfolios. 11

13 Large Cap Core Strategy Investment Objective. The Portfolio seeks to provide capital appreciation. Principal Investment Strategy. The Portfolio seeks to achieve its objective by using an enhanced index strategy 1 to select an equally weighted portfolio of 40 stocks. The selection process selects 20 stocks derived from the S&P 500 Growth Index using the Large Cap Growth Strategy and 20 stocks derived from the S&P 500 Value Index using the Large Cap Value Strategy. Invesco Capital Markets, Inc., the Sponsor, implemented the Portfolio strategy using information available through FactSet as of the close of business on October 9, 2018 (the Selection Date ). Large Cap Growth Strategy: Step 1: Begin with the stocks in the S&P 500 Growth Index 2 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the Price-to-Free Cash Flow and exclude all but the lowest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Return on Invested Capital and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the highest 3-Month Relative Sector Performance for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by S&P s Global Industry Classification Standard ( GICS )). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank 1 An enhanced index strategy refers to a unit investment trust strategy, sponsored by Invesco Capital Markets, Inc., that seeks to outperform an index by investing in an objectively selected subset of stocks from the same index. 2 For stocks included in both the S&P 500 Growth and the S&P 500 Value Indices, include only stocks with a higher Growth Weight than Value Weight for the Large Cap Growth Strategy, or with the higher Value Weight than Growth Weight for the Large Cap Value Strategy. Growth Weight and Value Weight are metrics furnished by S&P representing a company s weight within its respective S&P index. following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. Large Cap Value Strategy: Step 1: Begin with the stocks in the S&P 500 Value Index 2 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the highest 6-Month Relative Sector Performance and exclude all but the highest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Cash Percentage of Market Capitalization and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the lowest Price-to-Free Cash Flow for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. 12

14 With respect to each strategy described above, if more than 8 stocks in the initial portfolio are from a single economic sector (as defined by GICS), any such additional stock will be replaced with the stock with the next highest rank after Step 5 that is not in the same sector. Of course, we cannot guarantee that your Portfolio will achieve its objective. The value of your Units may fall below the price you paid for the Units. You should read the Risk Factors section before you invest. The Portfolio is designed as part of a long-term investment strategy. The Sponsor may offer a subsequent series of the portfolio when the current Portfolio terminates. As a result, you may achieve more consistent overall results by following the strategy through reinvestment of your proceeds over several years if subsequent series are available. Repeatedly rolling over an investment in a unit investment trust may differ from long-term investments in other investment products when considering the sales charges, fees, expenses and tax consequences attributable to a Unitholder. For more information see Rights of Unitholders--Rollover. Factor Definitions: Market Capitalization - A stock s share price multiplied by the number of shares outstanding. Price-to-Free Cash Flow - Stock price divided by last twelve months free cash flow. Free cash flow is net income plus depreciation and amortization and deferred income taxes; and minus capital expenditures and common and preferred dividends; all from the cash flow statement. Return on Invested Capital - Last twelve months net income before extraordinary items divided by total capital (long-term debt plus common and preferred equity and minority interest). 3-Month Relative Sector Performance - The percentage return of the stock over the last three months relative to the median return of all stocks in its sector. 6-Month Relative Sector Performance - The percentage return of the stock over the last six months relative to the median return for all stocks in its sector. In other words, a positive value for this metric would reflect that during the time frame a stock generally outperformed stocks of other companies in its sector, while a negative value would reflect that a stock generally underperformed stocks of other companies in the same sector. Cash Percentage of Market Capitalization - Cash divided by market capitalization. Principal Risks. As with all investments, you can lose money by investing in this Portfolio. The Portfolio also might not perform as well as you expect. This can happen for reasons such as these: Security prices will fluctuate. The value of your investment may fall over time. An issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may result in a reduction in the value of your Units. The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period. You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio s profits and losses. The Portfolio is concentrated in securities issued by companies in the consumer discretionary and consumer staples sectors. Negative developments in these sectors will affect the value of your investment more than would be the case in a more diversified investment. 13

15 The Portfolio s performance might not sufficiently correspond to published hypothetical performance of the Portfolio s investment strategy. This can happen for reasons such as an inability to exactly replicate the weightings of stocks in the strategy or be fully invested, timing of the Portfolio offering or timing of your investment, and Portfolio expenses. The hypothetical performance presented is not the past performance of the Portfolio. The Portfolio invests primarily in stocks of large cap companies. Large cap companies are more mature and may grow more slowly than the economy as a whole and tend to go in and out of favor based on market and economic conditions. We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines. 14

16 Fee Table The amounts below are estimates of the direct and indirect expenses that you may incur based on a $10 Public Offering Price per Unit. Actual expenses may vary. As a % of Public Amount Offering Per 100 Sales Charge Price Units Initial sales charge 0.000% $ Deferred sales charge Creation and development fee Maximum sales charge 1.850% $ As a % Amount of Net Per 100 Assets Units Estimated Organization Costs 0.396% $3.868 Estimated Annual Expenses Trustee s fee and operating expenses 0.245% $2.398 Supervisory, bookkeeping and administrative fees Total 0.301% $2.948* Example This example helps you compare the cost of the Portfolio with other unit trusts and mutual funds. In the example we assume that the expenses do not change and that the Portfolio s annual return is 5%. Your actual returns and expenses will vary. This example also assumes that you continue to follow the Portfolio strategy and roll your investment, including all distributions, into a new trust each year subject to a sales charge of 1.85%. Based on these assumptions, you would pay the following expenses for every $10,000 you invest in the Portfolio: 1 year $ years years 1, years 2,816 * The estimated annual expenses are based upon the estimated trust size for the Portfolio determined as of the initial date of deposit. Because certain of the operating expenses are fixed amounts, if the Portfolio does not reach the estimated size, or if the value of the Portfolio or number of outstanding units decline over the life of the trust, or if the actual amount of the operating expenses exceeds the estimated amounts, the actual amount of the operating expenses per 100 units would exceed the estimated amounts. In some cases, the actual amount of operating expenses may substantially differ from the amounts reflected above. The maximum sales charge is 1.85% of the Public Offering Price per Unit. There is no initial sales charge at a Public Offering Price of $10 or less. If the Public Offering Price exceeds $10 per Unit, the initial sales charge is the difference between the total sales charge (maximum of 1.85% of the Public Offering Price) and the sum of the remaining deferred sales charge and the creation and development fee. The deferred sales charge is fixed at $0.135 per Unit and accrues daily from February 10, 2019 through July 9, Your Portfolio pays a proportionate amount of this charge on the 10th day of each month beginning in the accrual period until paid in full. The combination of the initial and deferred sales charges comprises the transactional sales charge. The creation and development fee is fixed at $0.05 per Unit and is paid at the earlier of the end of the initial offering period (anticipated to be three months) or six months following the Initial Date of Deposit. For more detail, see Public Offering Price -- General. Essential Information Unit Price at Initial Date of Deposit $ Initial Date of Deposit October 18, 2018 Mandatory Termination Date January 17, 2020 Estimated Net Annual Income 1 Estimated Initial Distribution 1 Record Dates Distribution Dates CUSIP Numbers $ per Unit $0.04 per Unit 10th day of each February, May and August, commencing February 10, th day of each February, May and August, commencing February 25, 2019 Cash 46142K701 Reinvest 46142K719 Fee Based Cash 46142K727 Fee Based Reinvest 46142K735 1 As of close of business day prior to Initial Date of Deposit. The actual distributions you receive will vary from the estimated amount due to changes in the Portfolio s fees and expenses, in actual income received by the Portfolio, currency fluctuations and with changes in the Portfolio such as the acquisition or liquidation of securities. See Rights of Unitholders--Estimated Distributions. 15

17 Hypothetical Strategy Performance The table below compares the hypothetical total return of stocks selected using the Portfolio s investment strategy (the Hypothetical Strategy Stocks ) with the stocks in the S&P 500 Index. Hypothetical total return includes any dividends paid on the stocks together with any increase or decrease in the value of the stocks. The table illustrates a hypothetical investment in the Hypothetical Strategy Stocks at the beginning of each year -- similar to buying Units of the Portfolio, redeeming them after one year and reinvesting the proceeds in a new portfolio each year. Hypothetical Total Return Hypothetical Strategy S&P 500 Year Stocks Index % 10.06% (9.10) 2001 (11.74) (11.89) 2002 (9.90) (22.10) (0.19) (33.71) (37.00) (0.28) Through 09/30/ See Notes to Hypothetical Performance Tables. 16 These hypothetical returns are not actual past performance of the Portfolio or prior series but do reflect the sales charge or expenses you will pay. Of course, these hypothetical returns are not guarantees of future results and the value of your Units will fluctuate. You should note that the returns shown below are hypothetical annual returns based on a calendar year investment. The performance of the Portfolio may differ because the Portfolio has a 15 month life that is not based on a calendar year investment cycle. For more information about the hypothetical total return calculations, see Notes to Hypothetical Performance Tables.

18 Large Cap Core Strategy Portfolio Current Cost of Number Market Value Dividend Securities to of Shares Name of Issuer (1) per Share (2) Yield (3) Portfolio (2) Consumer Discretionary % 24 Advance Auto Parts, Inc. $ % $ 3, Home Depot, Inc , Kohl's Corporation , Lowe's Companies, Inc , Ross Stores, Inc , Starbucks Corporation , Ulta Beauty, Inc , Consumer Staples % 76 Archer-Daniels-Midland Company , Clorox Company , Kroger Company , Energy % 121 Baker Hughes, a GE Company - CL A , ConocoPhillips , HollyFrontier Corporation , Valero Energy Corporation , Financials % 83 Aflac, Inc , Allstate Corporation , Berkshire Hathaway, Inc. - CL B , Discover Financial Services , JPMorgan Chase & Company , MetLife, Inc , Progressive Corporation , Raymond James Financial, Inc , U.S. Bancorp , Health Care % 13 Anthem, Inc , Biogen, Inc , Regeneron Pharmaceuticals, Inc , Industrials % 52 CSX Corporation , Fastenal Company , Southwest Airlines Company ,

19 Large Cap Core Strategy Portfolio (continued) Current Cost of Number Market Value Dividend Securities to of Shares Name of Issuer (1) per Share (2) Yield (3) Portfolio (2) Information Technology % 17 Apple, Inc. $ % $ 3, Broadridge Financial Solutions, Inc , Fiserv, Inc , HP, Inc , Intuit, Inc , Mastercard, Inc. - CL A , NVIDIA Corporation , VeriSign, Inc , Visa Inc. - CL A , Materials % 72 CF Industries Holdings, Inc , Nucor Corporation , ,924 $ 148, See Notes to Portfolios. 18

20 Mid Cap Core Strategy Investment Objective. The Portfolio seeks to provide capital appreciation. Principal Investment Strategy. The Portfolio seeks to achieve its objective by using an enhanced index strategy 1 to select an equally weighted portfolio of 40 stocks. The selection process selects 20 stocks derived from the S&P Mid Cap 400 Growth Index using the Mid Cap Growth Strategy and 20 stocks derived from the S&P Mid Cap 400 Value Index using the Mid Cap Value Strategy. Invesco Capital Markets, Inc., the Sponsor, implemented the Portfolio strategy using information available through FactSet as of the close of business on October 9, 2018 (the Selection Date ). Mid Cap Growth Strategy: Step 1: Begin with the stocks in the S&P MidCap 400 Growth Index 2 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the Forward P/E and exclude all but the lowest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Cash Percentage of Market Capitalization and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the highest Long-Term Growth Rates for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by S&P s Global Industry Classification Standard ( GICS )). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank 1 An enhanced index strategy refers to a unit investment trust strategy, sponsored by Invesco Capital Markets, Inc., that seeks to outperform an index by investing in an objectively selected subset of stocks from the same index. 2 For stocks included in both the S&P MidCap 400 Growth and the S&P MidCap 400 Value Indices, include only stocks with a higher Growth Weight than Value Weight for the Mid Cap Growth Strategy, or with the higher Value Weight than Growth Weight for the Mid Cap Value Strategy. Growth Weight and Value Weight are metrics furnished by S&P representing a company s weight within its respective S&P index. 19 following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted. Mid Cap Value Strategy: Step 1: Begin with the stocks in the S&P MidCap 400 Value Index 2 Step 2: Exclude the bottom 20% of stocks based on Market Capitalization Step 3: Rank the remaining stocks from the previous step based on the highest 1-Year Sales Growth and exclude all but the highest 100 Step 4: Rank the remaining 100 stocks from the previous step based on Operating Cash Flow-to-Net Income and exclude all but the highest 50 Step 5: From among the 50 stocks remaining from the previous step, select the 20 stocks with the lowest Price-to-Sales for the Portfolio No more than 8 of the stocks in the initial portfolio will be selected from any single economic sector (as defined by GICS). If any 2 stocks have the same rank after Step 5, the stock bearing the higher rank following Step 4 will be assigned the higher rank for purposes of selecting the final 20 stocks for the Portfolio. In addition, a company will be excluded and its stock will be replaced with the stock with the next highest rank through Step 5, if the company is an affiliate of the Sponsor, if there is any restriction on the Sponsor s ability to purchase a company s stock, or, if based on publicly available information as of the Selection Date, a proposed corporate action would result in it not being the surviving company following a business combination or in its security being delisted.